Finance Act 2021 Amendments Prospective: ITAT Upholds Depreciation on Goodwill in Amalgamation Cases

Nirma Limited Vs DCIT (ITAT Ahmedabad)

The Income Tax Appellate Tribunal (ITAT) Ahmedabad recently decided multiple appeals in the case of Nirma Limited vs. Deputy Commissioner of Income Tax (DCIT), covering assessment years 2015–16 and 2016–17. The dispute involved recurring issues such as taxability of sales tax subsidy, allowability of depreciation on intangibles and goodwill, treatment of product registration expenses, eligibility of deduction under Section 80IA, and corporate guarantee commiss

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